AMTE Power has been selected as the lead supplier in a three-year project focused on bringing two lithium-ion batteries to automotive readiness.
The project will be part funded by the UK Government’s Advanced Propulsion Centre (APC), with a grant of £5m.
The funding will be divided between it and three other automotive supply chain companies - Magtec, Petalite and Avocet - with AMTE Power receiving £2.3m over the next three years.
Several global automotive manufacturers will be involved in the project as steering partners, providing co-operation and guidance on technical and commercial requirements of AMTE’s Ultra Energy and Ultra High Power cells.
As part of the project, the Ultra High Power cell will be sent to partners for external validation and adoption in their vehicle prototypes. Similarly, the Ultra Energy cell will be demonstrated working in Magtec’s two commercial electric vehicle prototypes.
Kevin Brundish, chief executive of AMTE Power, said: “The APC selects companies who they believe will be key players in the UK’s electric vehicle supply chain, and funds projects that will take products into this high volume market.
“Working closely with leading automotive manufacturers and supply chain companies is an ideal position to be in as we work towards volume production of our products.
“Importantly, this project will not affect the existing commercialisation plans for these cells, as set out at the time of our IPO, it will instead be complementary and focus on readiness to mass produce for our targeted automotive client base.”
AMTE Power was founded in 2013, with plans to develop and manufacture lithium-ion battery cells for specialist markets.
In March, the company listed on the AIM market of the London Stock Exchange, raising £13.7m - nearly twice the £7m it was originally seeking.
Its products are targeted at the automotive industry, oil and gas markets and the energy storage sector.
AMTE's purpose-built cell manufacturing facility in Thurso has the second largest cell manufacturing capacity in the UK and the company also has a product development team based in Oxford.
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